Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-04-20
OUR VARIOUS BONDS.
THE rAsr.APPRoscHINe pEBr con-
FERENCE.
Sir Edward Thornton Expected in New
York saturday-fhe Bogds
Riddlss, &c.

EIfuIih ou b"tpho"J S'SAinb VI
Sir Edward is the accredited repro
sentative of the Council Of Foreign
Pondbolders and Mr.. Braithwaite is so
licitor to the council. OF this last fact
Mr.. Cooper has just been informed by
letter from London. These two gen
tIemen. whose mission to Virginia Is
exciting such interest Just now, will
probably reach Richmond on Monday
or Tuesday, and, it is fair to presume,
will at once 90 to work. The members
Of the legislative committee viii all be
here for conference before eur British
friends arrive, and the Legislature
meets on Wednesday next.
THE FIGURES.
Auditor Marye and Mr.. Craig, the
accountant of the Legislative commit
tee. have been hard at work during the
recess preparing facts and figures
which they anticipate will be called for.
The annual income and expense nc-
count OF the State the Dispatch has
recently published from the official
figures. Accepting them as correct, 1t
is indisputable that after providing for
the expenses of government and main
tenance Of free schools, the State could
barely meet the interest on the new 3's
If the whole debt should be funded.
At the Capitol it is said that an honest
and searching scrutiny of the books
will certainly show this condition OF
affairs.
By some it is believed that Sir Ed
ward Thornton will propose that he and
the legislative committee shall agree
upon some disinterested party to make
up financial exhibit. upon which the
conferrees shall proceed to act. This is
probably what is meant in Mr.. Bouve-
rie's cablegram when he speaks of sim
dependent investigation"
TEE PETITION.
SIGNATURES are sill being obtained TO
the debt petition heretofore mentioned
in these columns. 1t begs that the
bondholders' representative shall he
approached in the spirit of compro-
mise, and, if it does not say 50 in ex-
press terms, assuredly warns the State
that in the event of failure to effect q
settlement now coupons will be more
largely used hereafter than ever.
Many sood and wealthy Citizens have
signed this paper.
Many Others equally as wealthy and
lust as rich have positively refused to
sign it.
LOWER THE TAXES.
In the event Of failure to effect 4
compromise the Legislature, before II
adicurns, will be called upon to vote
upon the question OF lowering the taxes.
The rate is now forty cents on the 800
That will produce about enough to pay
all expenses, including full interest OF
the whole debt if funded into new 3's
But if the debt is not to be funded
twenty-five cents will do.
So there are leading Democrats who
urge that if the debt is not funded the
taxes ought to be decreased from forty
TO twenty-five cents, for they say sit Il
useless to take the money from the peo
pies pockets and bring it to Richmond
where il is either put in the banks o.
invested in new 3's."
The Legislature will be back here OF
the 9th. They will at once go to worl
trying to save the license-taxes from thu
coupons.
The Spurious Riddles"
The New York correspondent Of tn
Boston Herald says:
"Ronds suspicious ; would not teucl
them !" was the telegram received las
Friday by Messrs. Tobey & Kirk, No
4 Broad street, from their Richmon'
correspondents, and which put stOl
TO the negotiation of the spurious bond
as reported in yesterdays special dis
patches from Richmond Mr.. Kirk
who was at his residence to-day, CAV
the following account of the attempte'
sale: "About week ago we receives
from perfectly reliable banking firm
at Boston telegram asking for a quo
tation of Virginia Riddleberger 3's, a
the same time asking US to get bid ol
these bonds to the amount OF ga. .0OO
We gave the ruling quotation
which was 66aG7. As there ar
20 many different descriptions o
Virginia bonds afoat, and not beinI
in the habit of handling anything o
this description without being fully
informed, we telegraphed our Richmon
correspondents in regard to the matter
They replied, asking for full de
scription of the bonds and the name o
the company by whom they wer
printed. This request was complies
with. and the Kendall Bank-Note Com
pany, as it appears upon the sam
ple we received, was given as the en-
arayer The result was the warnint
message which l have just quote
to You. Immediately upon receiT
of this dispatch we telegraphe
our correspondent as follows: Rich
mond advises us bonds spurious. ID
not advance any money on them. Thi
is the last / have heard of them
Neither our firm nor our correspor
dents, so far as / know, have lost an
money on these bonds"
Mr.. George Ii. Kendall, president
the bank-note company referred u
said that in 1852 his firm printed fc
the State OF Virginia, as per contrac
bonds to the amount OF about St3l, ,0Ol
These were rejected by the Malone az
ministration and returned. By the aC
vice of counsel he refused to receiv
them, and some time ago commences
suit to recover damages suffered b
him through breach of contract on tn
part of the State. Mr.. Kendall We
under the impression that the reiecte
bonds had been returned to Richmon
and were deposited in the vaults OF II
State Treasury.
RICHMOND VIEW.
The Capitol officers are not incline
to accept the view contained in OF
Boston special yesterday-yiz., that II
spurious bonds were put forth as mel
curiosities or were thought to |
repudiated bonds " of no more tina
a remotely prospective value.
Certain it is that the parties who g
possession of them found them III
signed and proceeded TO sign the
with the names Of ID. II. Reveley an
81. A. Smith, which was an unnece
sary proceeding where bond was hel
as curiosity. The other view is mol
| likely, and is sustained 10 some extel